The evening world., 1887-12-02
1T IS NOT AN Ell DORADO.
THE; HASSAYAMPA MINING EXCITEMENT
ONLY A RAILROAD BOOM.
Mining Experts Advise Capitalists Not TO
Invest in the New Gold Fields The
Mines Only a Pocket that win Not Pay
for Development-what n Mine Owner
from the Prescott District Says.

Invest IN the new eOid fIeius Inc
Mines Only a Pocket that VIII Not Pay
foa Deveiopment-what n Mine Owner
from the Prescott District Says.
The more investigation given that alleged
% great gold bonanza" in the Hassayampa
region, near Prescott, Ari., of which fabu-
lous stories have been circulated, the more
reason is there for the belief that the less one
has to do with the scheme, the better off he
will be.
When the yarn first appeared, there seemed
some reason for q partial belief in its
claims. Now, however, from the opinions of
mining experts. as well as capitalists, who
have visited that country recently, there can
be but a single inference, and that is that the
ting short-sighted capitalists to place money
in the property, for the benefit of a few claim
owners, who want to boom the ledge and
then get rid of it.
Gulling the public is the favorite pastime
of many corporations whose inducements
have been just as elaborate as are offered in
this richest of all modern ~bonanzas." But
quilting the public has been carried so far,
and the honest portion of the press has fol-
lowed these concerns so sharply, that there
seems little likelihood that the temptation
offered by the statements 80 full of glittering
generalities will bear fruit.
One peculiarly of this mining claim, as q
we'll known man says. is that the further one
is from the mining regions the more valuable
is the property pictured to him.. The de-
spatches, he says, from Prescott, descriptive
travel Ell East or West, While the value e. of the
find likewise increases the further the de-
spatches go. So that when the Pacific Coast
tain value is increased almost tenfold.
Experienced miners" said the expert,
are not fooled by the stories of fabulous
wealth found. There probably are some who
feel that the richest mining region is some
spot where they are not, and Immediately
they rush off to other diggings which give
partial promise of rich returns.
To my mind" continued the speaker,
wealth in Hassayampa is simply a big, adyer-
tisement for an Arizona railroad which is
being built near there. There may be good
ore in that region, but nowhere near the
value reported. But any boom that can be
started now will help. the road, and that is
the thing desired. In fact, all the latest dis
patches from that country have glowing side
stories of the new railroad line. Then. If
the story is true, 80 much the worse for the
mine, for the richer the ore the less there is
Occasionally prospectors find rich
pockets and then quantities of very low
grade ore, but such fancy or specimen
mines, as they are called, are poor invest
ments. There is no value to q mine until
present instance there Is certainly no proof
to substantiate the claims made"
United States Assayer II. G.. Torrey, Of
Torrey & Eaton, 80 Wall street, had little
faith in the circulated stories Of this great
find, and would not advise investment until
a thorough examination had been made by a
competent INT honest engineer. He thought
that the discovery was only. a pocket, which
would not prove as substantial as was as
gnrAn1 Hhnr Lotto NJ thArn he ga,I -
that region. The story reminded him of a
mine in Halifax, where in a few diggings
over $3.50 o in gold were taken. Then the
whole thing gave out and the mining property
became useless.
1T might be a good idea to telegraph to
some mining expert located near PRESCOTT
he added, rather satirically, and while he
did not speak the words, his countenance
said, it would probably save some n lots
Don't put any faith in any newspaper
article about the property" he said. For
my part. froIe the tenor OF the original story
of the mines wealth, I would have nothing
to do with the property
Broadway, commended the work Of THE
WORLD. The story" he said, "looks fshy.
II does not augur well for a mining property
to contain such pockets. for the best mines
are those that turn out steadily ore that will
under the sum is possible but this story is by
no means probable. would not advise an
investment. Then, again, put no confidence
in the newspaper articles that tend to boom a
mine. They are unreliable"
j. A. MACPHERSON, Chairman of the Mining
Committee of the New York CONSOLIDATED
Stock and. Petroleum Exchange, thought
that if the figures representing the value of
the first were divided by two, or three: the
intrinsic worth. He put little faith in the
claim that the pocket would develop richly,
and advised q rigid investigation of the prop
erty before rlsking any money on 1t,
Horace Jones, with j. W.. Goddard & Sons,
importers, 5l6 Broadway. thought that the
whole thing was pure romance. He returned
but recently from a trip through the Has
sayampa region, and he owns mining prop
erty in that section Of the country. He be-
lieyes that there is nothing in the fabulous
colt mines, and to him it looked as though
ZONE miner had struck a ledge, found this
pocket of presumed wealth and now wanted
to boom his claim for all that it was worth.
worked over more frequently and thoroughly
than any other portion of Arizona, with a
few exceptions. Early miners to the vicinity
got the same distinction as did the California
miners in 40.
at is claimed that they can trace the vein
a mile" said Mr.. Jones in o tone of sarcasm,
and see evidences of gold, It's nonsense.
They can do nothing OF the kind. They have
not worked the property long enough to do
any such thing. In the mines / own in that
region, miners one day found q remarkably
rich pocket. It panned out hundreds of
dollars in gold. But that was all. II petered
to nothing. 1t was like a kidney in the vein,
and practically valueless. No doubt it is the
same case with the Prescott mines. There is
probably a pocket there, nowhere near the
value claimed for it, however, and it will
probably meet with a fate similar to that
other pocket"